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Feature Article by Stephen Lendman
GE Fraud? Bigger Than Enron?
by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)
Enron Online became the first Internet-based commodities transaction system.
It rescinded regulations in place since 1922. Derivative scams went wild.
Enron fleeced investors and energy purchasers with impunity until its house of cards collapsed.
Then-Fed chairman/maestro of misery Alan Greenspan endorsed derivatives — falsely calling them a way to share risks, ignoring unprecedented speculation with these instruments.
They turned the 2008-early 2009 economic downturn into a Great Depression for most households, exacerbated by neoliberal harshness.
Economic hard times continue for most US households. Maybe another sharp leg down is coming — turning America more into a nation of paupers than already, while privileged interests get richer at their expense.
In November 2005, whistleblower/financial a
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